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Bookmakers and casinos give themselves an advantage and 99% of individuals fall into their "trap". How do they do this and what should be avoided?

Let's look at the example of roulette in a casino.

On the surface, it looks OK. 36 numbers, choose one and obtain 35-1 if you're correct right? Wrong. most of the people forget that you will discover actually 37 numbers including zero (and even 38 with a double zero on American roulette). This make a huge difference with regards to payouts. So just using European roulette, let's crunch the numbers.

If you choose one number, the specific odds of getting that number correct is 1 in 37 or 36-1. So by offering 35-1, the casino has instantly stacked the odds ever so subtly in their favour. Just the reduction of 1 point gives the home an advantage of about 2.7%. Not just a lot you could think but over the course of Ł100,000 that is Ł2700 in favour of the casino. A small margin but a margin nonetheless.

So what about red/black or odd/even? Again, it could appear to be a 50/50 bet. But with the inclusion of zero, you really have an 18 in 37 chance (48.65%). That favours the home by 1.35% which over the course of one day, could equal to thousands of pounds.

But this really is nothing in comparison to bookmakers.

As I have demonstrated, a "50/50" at a casino is in fact a 48.65/51.35 against you. At bookmakers, the margin is significantly greater. A seemingly 50/50 bet is mostly priced up at 9/10 or 1.9 in decimal odds.

This means that the bookmaker is giving themselves a tremendous 10% margin on these sort of bets, the most common of which are called "handicap bets". The handicap bets are set up in such a way that you will find only two possible outcomes, More Tips rated as equally likely. But regardless of what your choice is, the bookie stands to keep 10% of the specific odds. Not fair, you might think. Well, they're not going to give you anything for free. They may be within the business of making money after all.

So, just how can you counter these edges?

It really is possible with bookmakers to utilize a system of "handicap doubles". I will explain this at another time. Otherwise, only good fortune will counter a bookie's edge and that is not something to rely on.